Sheldon Adelson battling cancer

March 4, 2019

It has been revealed that Las Vegas Sands Chairman and CEO Sheldon Adelson is undergoing treatment for a form of blood cancer, throwing a dark shadow across his casino empire, including in Asia.
In a statement, Las Vegas Sands noted that Adelson is taking medication to combat the cancer, which has certain side effects: “These side effects have restricted his availability to travel or keep regular office hours. They have not, however, prevented him from fulfilling his duties as chairman and CEO.”
One of Adelson’s lawyers gave a rather different account last week in explaining why he could not attend a court hearing. The lawyer stated that his health condition was “dire” and that he hadn’t appeared in the Sands corporate offices since last year.
At age 85, the cancer diagnosis underlines concerns about the future of Las Vegas Sands, which is a leading player in the gaming industries of Macau and Singapore, and which is seeking an IR license in a major urban market in Japan.
Should Adelson be removed from scene by either death or retirement, the vast political clout of Las Vegas Sands would certainly be impacted. Adelson and his wife Miriam are among the US Republican Party and the Trump administration’s largest financial donors, having collectively provided them about $150 million since 2016.
On Friday, Bernstein analysts advised that Adelson’s medical treatment should not derail Las Vegas Sands and Sands China.
“The recent news regarding Mr. Adelson’s health should not cause investor alarm with respect to LVS or Sands China. The companies both have strong management teams and there is an internal succession contingency in place in the event of Mr. Adelson’s inability to perform his duties as Chairman and CEO,” said Bernstein.

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